Ephren W. Taylor - The Elite Entrepreneur: How to Master the 7 Phases of Growth & Take Your Business from Pennies to Billions

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Table of Contents

BESTSELLING BOOKS BY EPHREN TAYLOR

Creating Success from the Inside Out

Develop the Focus and Strategy to Uncover the Life You Want

INTRODUCTION

How old are you right now? Thirty? Forty? Sixty? Twelve? Lots of people find it shocking the first time they hear my story and learn that I began focusing on business at the tender age of twelve. Thats righttwelvewhen most kids are riding bicycles, playing video games, and basically goofing around. Nobodys serious at age twelve, right? Maybe everyone else thought that way, but not me.

Why business? I figured out pretty early that I couldnt dance well, I couldnt sing a note, and I wasnt very good at sports, even though I did play high school football. Besides, a diagnosis of scoliosis ended my not-so-realistic chances of becoming an NFL pro.

I didnt want to go to work for someone else, and I wasnt raised to think the government owed me or my family anything. Because of my incredible parents, I knew I could achieve whatever I set my sights on, so I didnt listen to the clowns, the politicians, and the media personalities who tried to tell me anything different.

Like most kids my age, I loved video games. I loved them so much I could pretty much master any game I got my hands on. Still can! By the time I was twelve, my parents were fed up with shelling out money for new games and stopped buying them.

Ill never forget the day my mother said, Hey, Ephren, why dont you make your own video game? At the time I thought it was a cruel joke, but I thought about it and said to myself, Wow, that would be sort of cool. Instead of Super Mario, it could be Super Ephren! So I took my mom up on the challenge. (In a way, I guess you could say I owe it all to Mom.)

I didnt have any experience programming video gamesI was just twelve after all! I didnt know anything about it; I just knew how to play the ones I had. So I went to the best sources of information I could find (and that I could afford, like the library), but to my surprise I still couldnt find any information on it.Then one day I was in a bookstore and a prophetic moment came to pass. I felt like a light was shining from the clouds when I came upon it: How to Make a Video Game in 21 Days. The book cost $50. While my parents didnt want to buy video games, they did always promote education and us pursuing our dreams. So, they bought the book for me. and I taught myself how to create a video game. I didnt even have a computer at the timeI had to use the ones at school.

I studied hard, worked on the school computers, found mentors to guide me, and eventually, I created my own game! No, I didnt have a college degree or even a high school diploma. I just did it. Then other kids wanted a copy of my game, and I realized I could make $10 apiece by burning copies. So I began selling my game, plus new ones I designed. I was in a very profitable business almost before I knew it. Was I too young to do that? Of course not! I simply did it!

I kept going. By age sixteen, I had won Microsofts Teen TechFest Challenge and had started a job search engine for teens. I was building a business, raising money, putting together agreements with Walmart, Citigroup, Sprint, Target, the Air National Guard, and others. I got them to list their jobs on my search engine. And somehow I managed to keep up with my math, science and English homework. I was a good student, and I was becoming hooked on business.

The Kauffman Center for Entrepreneurial Leadership in my hometown, Kansas City, offers an EntrePrep scholarship. I appliedand won. I was able to attend Kauffman, and the things I learned there took me to a whole new level and helped me build my business skills even more.

I picked up more mentors along the way. They taught me about growing a business, hiring and managing talent, preparing for and making presentations to investors, and a whole lot more. I personally raised more than $250,000 to grow my company.

And man, did we grow it!

An online job search engine, My First Dot Com Company, grew into an enterprise worth millions by the time I was seventeen. By nineteen, I retired, and began helping my dad in a church hed established. I took the donation and endowment monies and started managing them, investing them in homes for families within our own community. I used all the things I had learned up to develop successful investment strategiesso successful I was named the Kansas Young Entrepreneur of the Year in 2002. Ive continued to refine those strategies, and we still use them in our companies today, plus a few more Ive picked up along the way. Those strategies helped me take a company public at age twenty-three (in fact, Ive now taken three companies public, and Im just twenty-eight).

Taking a company public the first time was a phenomenal feat, but nobody knew about it.

That all changed in 2007 when I published my first book Creating Success from the Inside Out, which hit the Wall Street Journals best-seller list twice. It was also in the top five in a number of categories on Amazon.com and claimed the number nine spot on CEORead.coms top business books of 2008. Needless to say, my life has changed drastically since I wrote my last book. Ive been on the Today show, front page of CNN.com, ABCs 20/20 and a regular correspondent on the Fox Business Channel. Even more satisfying, Ive received hundreds of letters from parents, students, and individuals who have been touched by the book. A gentleman from Norway e-mailed to thank me because he had read it and seen coverage onYouTube and decided to quit his job and start his own cooking line. He was successfulhis cooking line was picked up by a store. The ability to influence people like that man and so many others was the reason we put the book out in the first place. And its the reason why my team and I decided it was time for round twoanother book!

You might be saying to yourself, so why a second book, Ephren? As I listened to people as I toured the country, I realized that my first book was very successful because it was a great inspirational story.Yet as great as that story was, I realized that what people really needed was training and more practical tips about exactly what it takes to become an entrepreneur. And thats why Ive written The Elite Entrepreneur.

Everybody wants to be an entrepreneur. But do they really realize what it takes to be become one? Do they realize the sacrifices theyve got to make and energy theyve got to put into it? There are so many misconceptions out there about what it takes. And most of what we need to know is not taught in the traditional classroom. We often have misconceptions about how its going to be when we step into the entrepreneurial role, but I wanted to put something out there that really broke down the process step-by-step. I also want to share some of my life experiences, battles, and successes, as well as the obstacles my team and I have had to overcome. I feel information like this is needed now more than ever as America is coming out of the recession of 20082010, an economic slump that has touched and affected so many lives. For many people, the recession meant their Plan A just went out the door. Now its time for Plan Bowning a business. People were laid off in unprecedented numbers, no matter where they were in their careers. Many people had to create those side jobs just to make ends meet. But how do you take that side job or that hobby or that additional income stream an turn it into a true business? Thats what were going to teach you to do in this book.

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